|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||47.14 - 48.10|
|52 Week Range||42.65 - 52.27|
|Beta (3Y Monthly)||0.74|
|PE Ratio (TTM)||13.44|
|Earnings Date||Feb 5, 2020 - Feb 10, 2020|
|Forward Dividend & Yield||2.64 (5.60%)|
|1y Target Est||68.27|
Saudi Aramco’s initial public offering is set to begin trading Wednesday, and expect the financial media industrial complex to go into overdrive.
When Carol Dweck was 11 years old and in the top class at her school in New York, she was taught by a Mrs Wilson. Mrs Wilson used to seat her sixth-grade charges in IQ order, “smartest” at the front. “She believed that every point was meaningful — not just about intelligence but about character,” Dweck says.
The Turner Prize judges announced to the art world notables gathered at (you couldn’t make this up) Dreamland, a retro theme park in Margate on the English coast, that the artists had asked not to be “pitted against each other, with the implication that one was more important, significant or worthy of attention than the others”. The judges had unanimously agreed to the request for the artists (Lawrence Abu Hamdan, Helen Cammock, Oscar Murillo and Tai Shani) to become a single entity.
Saudi Arabia moved aggressively to prop up the oil market, agreeing additional curbs in production on top of sealing a new output deal with Opec and its allies. The so-called Opec+ alliance, which also includes Russia, agreed curbs of 500,000 barrels per day on Friday after two days of fraught meetings in Vienna, with Saudi Arabia pledging additional voluntary cuts of a further 400,000 b/d. The kingdom has been scrambling to prop up the oil market amid warnings that it faces a severe supply glut in the first half of next year.
It helps if you can summon Tilda Swinton, Harvey Keitel and Marion Cotillard, as the Marrakech International Film Festival did this week. Swinton, head of the competition jury, arrived in a bubble-gum pink suit and trailing fellow jurors that included directors Andrea Arnold, David Michôd and Kleber Mendonça Filho. Every evening in the historic Jemaa el-Fna square in Marrakech’s old town, market traders and tourists were joined by up to 12,000 spectators, gathering to watch a free outdoor screening of a popular old favourite showing out of competition.
British households’ collective wealth has grown rapidly over a decade in which earnings have stagnated and the richest 10 per cent of the population are enjoying the biggest gains, according to official data released on Thursday. Households’ aggregate wealth flatlined in the years immediately after the 2008 financial crisis but has grown steadily in real terms since 2012, increasing by 13 per cent to £14.6tn between the periods 2014-2016 and 2016-2018, according to the figures published by the Office for National Statistics. This means households now hold assets worth more than seven times national output — the highest ratio in more than a century, said the Resolution Foundation, a think-tank.
(Bloomberg) -- OPEC’s crude production fell before ministers gather to discuss their strategy for next year, though more by accident than design.Angola, which has been suffering a decline for the past four years, saw output slide to the lowest in more than a decade. Iran’s production, already squeezed to the lowest since the 1980s by U.S. sanctions, dwindled even further.Total output from the Organization of Petroleum Exporting Countries consequently slipped by 110,000 barrels a day to 29.7 million a day last month, according to a Bloomberg survey of officials, ship-tracking data and estimates from consultants including Rystad Energy AS and JBC Energy GmbH.The group and its allies, a 24-nation alliance known as OPEC+, will meet in Vienna this week to consider output levels for the year ahead. Though the coalition -- which pumps about half the world’s oil -- cut supply by 1.2 million barrels a day this year, it’s forecasting a renewed surplus in early 2020.Iraqi Oil Minister Thamir Ghadhban said on Sunday that OPEC+ could consider deepening the cutback by 400,000 barrels a day. However, his comments conflict with signals from the rest of the group, and data for November showed that Iraq had again failed to deliver any of the curbs it promised under the existing deal.Saudis SteadySaudi Arabia, the group’s biggest member, indicated last week that it’s tired of shouldering most of the burden of the curbs while others -- such as Iraq, Nigeria and Russia -- fail to live up to their promises.The kingdom kept production steady last month at 10.01 million barrels a day, the survey showed. While it’s still cutting far more than obligated under the terms of the OPEC+ deal, output is up from the levels produced for most of this year.The decline in the group’s overall volumes last month was instead the result of unintended disruptions, which have beset many OPEC members for several years.While Angola started pumping from a new ultra-deep offshore project this summer -- the Kaombo unit operated by Total SA -- the West African nation has struggled to make up for years of under-investment at aging oil fields. Output fell last month by 60,000 barrels a day to 1.28 million a day.Iran has also been under strain this year as U.S. President Donald Trump pressures Tehran to renegotiate an agreement on its nuclear program by squeezing the economy with sanctions. Iranian production fell by 40,000 barrels a day to 2.07 million.Despite the losses, OPEC’s total output remains higher than the levels it expects will be needed in the first half of next year. If the group holds at 29.7 million barrels a day, the surplus would amount to about 650,000 barrels day, potentially pushing prices lower and hurting members’ revenues.To contact the reporter on this story: Grant Smith in London at firstname.lastname@example.orgTo contact the editors responsible for this story: James Herron at email@example.com, Amanda JordanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
I am half an hour into lunch with Ronan Farrow, and we are yet to see a menu. Arriving first at the Union Club, a cosy members-only townhouse in the heart of London’s Soho, I alighted upon an impeccably ...
Net migration of EU citizens to the UK has fallen to its lowest level since 2003 but this has been balanced by a slight increase in arrivals from the rest of the world, according to official statistics. The drop in EU net arrivals was due largely to a sharp decline in the number of Europeans moving to the UK for work, continuing a trend since the June 2016 Brexit referendum. EU net migration fell to 48,000 in the year to June 2019 from 74,000 a year earlier, the Office for National Statistics said on Thursday.
Total's Chief Executive Patrick Pouyanne on Sunday criticised the French parliament's decision on Nov. 15 to remove tax breaks on palm oil in biofuels, saying the survival of its biorefinery in southern France was at stake. The parliament voted against a government-backed proposal to delay until 2026 the end of palm oil's tax advantages, that would have given companies like Total more time to phase out the use of palm oil in biofuels. Total invested 300 million euros ($330.66 million) to convert its La Mede facility from a crude oil refinery into a biofuel plant, saving 250 jobs.
Papua New Guinea's petroleum minister on Friday flagged a standoff in talks with Exxon Mobil Corp tied to a $13 billion gas expansion, saying the U.S. oil giant was unwilling to negotiate on the country's terms. The state's negotiating team had set out draft terms for negotiations on developing the P'nyang gas field, which Petroleum Minister Kerenga Kua said were in line with international standards and would ensure a "fair deal" for PNG. "It is disappointing Exxon has refused to even consider these terms and we urge them to reconsider their position," Kua said in a statement emailed to Reuters.
Foreign oil stocks seem to be weathering the current environment better than US drillers, and some of them have managed to significantly raise profits over the last few quarters
France's parliament on Friday voted to remove tax breaks for the use of palm oil as a biofuel, a day after a ruling in favour of maintaining the advantage led to howls of protests from environmentalists. A large majority of members present voted against a government-backed proposal to delay until 2026 the end of palm oil's tax advantages, giving companies like oil major Total more time to phase out the use of palm oil in biofuels. Late on Thursday, the National Assembly, France's lower house of parliament, had agreed to extend the tax breaks, but following strong pushback from environmentalist MPs within President Emmanuel Macron's ruling LREM party, the government agreed on a second vote.
U.S. sanctions on Moscow have forced out foreign oil majors that were developing oil and gas reserves in tricky areas such as the Russian Arctic and Siberia
The trade war appears to be the only variable that will impact the price of oil in today’s market, which means all eyes will be on Trump’s upcoming speech in New York